Issue 3 2021 of PNG Business News is now out! On our cover, we pay homage to Sir Moi Avei KBE, who has retired as chairman of OK Tedi Mining after over six years at the helm. We wish Sir Moi all the best in the days ahead.
We follow up our cover story in the previous issue with an update on Freeport Resources Inc. and how they have gained extensions for their exploration license for Nong River, while awaiting ministerial endorsement for its license to the Yandera Copper Mine, its latest acquisition in Papua New Guinea.
In the oil and gas front, Australian giant Santos and PNG’s Oil Search have finally come to terms with their merger, with the new entity valued at roughly K53 billion and becoming one of the world’s top 20 O&G firms.
In the energy industry, we also report on how the government, through Mineral Resource Authority (MRA) has embarked on geothermal exploration with help from the World Bank and the Government of Iceland.